Jean L. Serio

I hear it every day. From dozens of different places. Hundreds of different people. When you're thinking about starting up a business - "Go with your passion. Your passion will take you to the top", they say. I urge you to run. And run fast when you hear this. Because the cold, hard truth is: not everyone else will be as excited, or interested, in what you're passionate about as you are. Read on and discover why.

So if you're planning to sell hand-raised crocodiles to prison inmates, or glow-in-the dark makeup to clergy - no I'm not kidding, these are actual things people are passionate about - these niches clearly miss the mark when it comes to a viable "niche" and "niche product" which will bring you personal and financial success.

What's a niche and niche product? you ask:

A niche product, or service, fulfills a previously unfulfilled need. And that product, or service, is directed at a very specific audience. One that wants, needs, even craves and has the money to pay for your particular product. For example, a new type of scuba gear, books on skydiving, women's and baby's health or health problems are all niches. Albeit larger niches.

For instance if you've developed a new food for pet iguanas, I strongly urge to research and discover whether there's a solid, viable market for such a product before putting your life's savings into marketing it. In fact, before you developed it, you should have done your research into it's saleability, first. But if research shows a new food for birds or fish will find a solid market, you may have found a niche.

Another example is - after researching you discover a solid market for sympathy cards for parents who've lost children to cancer and other degenerative diseases, you're thinking about designing, you've found a niche.

To discover whether your new iguana pet food has an audience, even if it's a small devoted audience - whether iguana pet food is even searched - do some research on Google, Yahoo, MSN, and others to discover how many times people go online to search the topic. Or check out popular online sites like WordTracker.com who specialize in top words searched.

If you're set on creating your own niche and niche product, you'll have your work cut out for you. It could take thousands of dollars, and years, not only to develop the product, but to develop a financially sustainable market who wants and needs your product or service. It's much easier to start with an existing niche and leave development of one until you have the time and money to pursue it.

Creating a successful sub-niche from a more popular one:

You can always create a sub-niche from a more popular one. The way to do that is to drill down your market and do your research into offering products and services to a much smaller division of that popular niche.

For example, women's and babies health could be drilled down to services or products for the health of women with twins, the health of women who've lost a baby. That group could further be drilled down to: the health of women with twins born with loss of hearing, or who are autistic; the health of women who've caused the loss of their baby; the health of women with diabetes who have children.

Each time you drill down, you create a smaller niche. While you'll have less customers when you drill down to a considerably smaller niche, you're more likely to develop a loyal customer base who'll also refer your unique products and services to others. Perhaps hospitals and other health professionals will hire your services. Eventually, you'll become an "expert", your services and products well-respected and referred to many.

Your #1 goal when starting a business is to select a "niche" that serves a sustainable niche. Hopefully it will also be a niche you can be passionate about. So hand over the hand-raising those crocs to a frienda nd get cracking on developing or researching a viable "niche".

Additional Tips to help determine whether there's a viaable market for your product:

1. Ask non-competitive local or on-line business owners for their input.

2. Survey family and friends.

3. Use tools like Yahoo, Google and search engines.

4. Visit online chatrooms and forums where people discuss similar products.

5. Read blogs.

6. Do research at the library.

7. Buy books on the topic.

If you're thinking about opening an actual storefront and selling specific products or services, visit places who sell a similar product, local malls and other retailers. Visit local business owners in the area you're considering, talk with people at local business organizations like the Chamber of Commerce. Chat with people at your church, with parents at your child's school, members of organizations or groups you belong to.

If your research shows this particular product market is over-saturated, it's best to re-think your niche. Perhaps you can drill it down to an even smaller sub-niche. Should your research show you it's -- overall -- a weak market or a nearly non-existent niche, you need to drop it and move on to another more viable one.

Most of us tend to come up with ideas, products or services we think are the next great thing. And we overlook important things like how large and sustainable the market really is. And whether that market actually has the money to buy the product or service. Bottom line: What the customer, or marketplace wants, is all that matters. And giving them what they want should be your highest priority. Copyright 2006,Jean L. Serio. Are you one of the 1.2 million women tired of working the 9-5 grind, sick of making ends meet? As you know, starting your own business still remains one of the best strategies for providing you financial freedom. Discover how to start your own business, today, with your own step-by-step Action Plan. Plus, to ensure you receive all the details FREE, and learn how to harness the power and resources you need to start, sign up for your Free Newsletter "Start Up a Business Today" and receive your Bonus Report "5 Mistakes Women Make Starting Up a Biz". Go to: www.womensmarketingandbusinessnetwork.com "We help you make it happen!"

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